This month, the Departments of Labor and HHS proposed rules for the “uniform summary of coverage” that is required under PPACA. Heath insurers and group health plans (including grandfathered plans) must provide consumers with clear, consistent and comparable information about their health plan benefits and coverage beginning in 2012.
The federal COBRA subsidy, first available Feb. 17, 2009, covered 65 percent of the cost of COBRA health insurance premiums for up to 15 months. To qualify for the subsidy, recipients must have originally become eligible for COBRA as a result of an involuntary termination of employment occurring between September 2008 and May 2010.
A limited liability company’s (LLC’s) health plans may create special issues with respect to LLC member participation. This is because LLCs may be treated as either a partnership or a corporation (depending on how the LLC has elected to be treated), and for tax purposes the IRC treats partnerships and corporations differently. No IRS guidance specifically addresses the status of LLC members for purposes of health plan participation, including participation in a medical or cafeteria plan.
On Aug. 19, 2011, the Center for Consumer Information and Insurance Oversight (CCIIO) introduced supplemental regulatory guidance regarding the annual limit waiver application process. Specifically, the guidance clarifies that sponsors of stand-alone HRAs will not be required to seek waivers from PPACA rules that restrict annual dollar limits on the coverage of essential benefits.
AHIP Urges Policymakers to Prevent Disruption for HSA Policyholders
Washington, DC – More than 11.4 million Americans are covered by Health Savings Account (HSA)-eligible insurance plans, a more than 14 percent increase since last year, according to a new census released today by America’s Health Insurance Plans (AHIP) finds.
CHICAGO, June 7 (Reuters) – At least 30% of employers are likely to stop offering health insurance once provisions of the U.S. health care reform law kick in in 2014, according to a study by consultant McKinsey.
More Americans are using HSAs to save and pay for medical expenses, according to a new report from the J.P. Morgan Treasury Services. The report shows the average HSA balance is up 7 percent from 2009, at $1,494, and the average account contribution rose slightly in 2010 to $1,884, compared to $1,816 in 2009.
New Reports Indicate Disturbing Trends for Costs and Employer-Sponsored Coverage PriceWaterhouseCoopers (PwC) issued two new reports last week on the cost of health insurance and its resulting impact on employer-sponsored coverage. The first study shows
WASHINGTON (AP) — President Barack Obama has signed the first rollback of last year’s health care law, a bipartisan repeal of a burdensome tax-reporting requirement that’s widely unpopular with businesses.
The budget deal, reached late Friday, narrowly averted a large-scale shutdown of the federal government after congressional leaders and the Obama administration agreed to a package that cuts about $38 billion in federal spending.
EBSA News Release: [04/07/2011] Contact Name: Mike Trupo or Jason Surbey Phone Number: (202) 693-3414 or x4668 Release Number: 11-0493-NAT
WASHINGTON — For 25 years, the health insurance continuation provisions in the Consolidated Omnibus Budget Reconciliation Act of 1985, better known as COBRA, have guaranteed that when workers and their families face certain life events, they have the opportunity to maintain their health care coverage. Secretary of Labor Hilda L. Solis today issued the following statement marking this anniversary: